Are affiliate programs and designer discounts the best methods for your virtual design projects?
Maybe you've been told this is the easiest way to create passive income and the quickest way to punch a shopping list for a virtual design project.
What have your results been so far?
More than likely, you've found you're not earning a great deal of money from affiliate links, and discounts don't bring in any profit since the items are usually sold online cheaper. Even though you might not be making much money through the method you're using for product sales doesn’t mean you can't.
It might just mean, it’s time to change your method.
Examining why large retailers use affiliate programs and designer discounts will help you determine if these methods are suitable for your business. Like you, retailers spend time and money reaching new customers and nurturing repeat business.
An affiliate program is a marketing tool that drives guaranteed sales for retailers; the customer is encouraged down the sales funnel by someone else that spent time nurturing the "know, like, and trust" factor. It is an easy way to sell products without selling products, promote an impulse buy to a huge audience, and receive a small commission on the fraction of people who went ahead and made the purchase at that moment.
A "designer discount" can also be a way for the retailers to drive a guaranteed sale; the designer makes the purchase and then turns around and sells it to their clients. Unfortunately, these discounts may not bring down the price of a piece as low as it can be found online.
What would it do for your virtual design business to collaborate with a strategic partner?
Hellen Keller said, "Alone, we can do so little; together, we can do so much." I find this sentiment ringing true throughout personal and business life; working together allows everyone to bring their talents and strengths forward. When companies work together, leaning into each other's strengths, they grow and develop fuller offerings and build foundations that broaden relevance and increase their importance in the market.
Developing value-aligned partnerships that focus on common goals and utilize complementary strengths is key to building strong businesses. Developing strategic partnerships that also expand resources and empower revenue growth is key to sustainability.
The greatest success happens when collaboration drives opportunity.
Imagine how your business would grow if you had more resources at your fingertips.
Recognizing that independent interior designers and decorators have limited opportunities to change the furniture buying experience for their virtual design clients and make more money from those sales, we filled the gap by providing resources that allow for innovation and profits.